How Do Real Estate Agents Work In Thailand?

[KRS1]

In the US the listing broker gets 6% of the sale with 3% of that going to the agent that sells the house. Whatever other agents are involved get their cut from those percentages in some form.

So how do the agents in Thailand get paid? Do they list the property under contract and get a commission regardless of who sells it like in the US? Or is it more like a finders fee with no listing agreements?

What are the percentages usually given to agents and do agents require working under a broker first? Im guessing there are no real estate licenses required to be an agent to sell property correct?

Do agents approach a Condo building and say.... " I'm an agent, what is your commission on sales " ?....Do they then proceed to show properties with advance notification to the owner/ in house condo sales people, resulting in a commission?

thanx !

[ThaiBob]

There is no shared database of listings. RE companies/agents work independently. The buyer does not have an agent unless he gets contracts and documents reviewed from a lawyer at his own cost. The sellers agents gets the commission and typically will not share although they may pay someone a finder's fee.

[KRS1]

How do the agents work out the commissions from the owners? For rentals is the commission usually based on 1 months rent? If its a sale is there a customary percentage the owner gives the agent?

[davejones]

How do the agents work out the commissions from the owners? For rentals is the commission usually based on 1 months rent? If its a sale is there a customary percentage the owner gives the agent?

Might be easier to phone a few agents and say you want to sell your condo and ask how much the fees are.

[KRS1]

How do the agents work out the commissions from the owners? For rentals is the commission usually based on 1 months rent? If its a sale is there a customary percentage the owner gives the agent?

Might be easier to phone a few agents and say you want to sell your condo and ask how much the fees are.

out of country right now, but have always been curious how it works in LOS. Ive heard in the past that agents often mark up a price when selling then give you only what you were asking. This could be detrimental to the length of time to find a buyer.

[PattayaPhom]

3-5% on sales, some developers give more. Rental is 1 month for 1 year contract or 2 weeks otherwise. The reason some agents mark up prices is the owner will say I want x amount net...they wont agree a price and give the agent 3%. I personally stay away from vendors like this, nothing worse than listing a property that is advertised at varying prices.

[KRS1]

3-5% on sales, some developers give more. Rental is 1 month for 1 year contract or 2 weeks otherwise. The reason some agents mark up prices is the owner will say I want x amount net...they wont agree a price and give the agent 3%. I personally stay away from vendors like this, nothing worse than listing a property that is advertised at varying prices.

Thanks, that is what i was thinking.

[davejones]

How do the agents work out the commissions from the owners? For rentals is the commission usually based on 1 months rent? If its a sale is there a customary percentage the owner gives the agent?

Might be easier to phone a few agents and say you want to sell your condo and ask how much the fees are.

out of country right now, but have always been curious how it works in LOS. Ive heard in the past that agents often mark up a price when selling then give you only what you were asking. This could be detrimental to the length of time to find a buyer.

Try Google. I just Googled the question and came up with "around 3%". Also, very easy to phone internationally these days - use Skype.

[givenall]

They really don't work like back home. they advertiser on their company newsletter and just wait till some one comes their way by chance. i used few and had no result at all even when i offer extra bounces

[KRS1]

How do the agents work out the commissions from the owners? For rentals is the commission usually based on 1 months rent? If its a sale is there a customary percentage the owner gives the agent?

Might be easier to phone a few agents and say you want to sell your condo and ask how much the fees are.

out of country right now, but have always been curious how it works in LOS. Ive heard in the past that agents often mark up a price when selling then give you only what you were asking. This could be detrimental to the length of time to find a buyer.

Try Google. I just Googled the question and came up with "around 3%". Also, very easy to phone internationally these days - use Skype.

I prefer first hand experience from people who have had direct contact. Usually they will be more objective at judging the agents performance and tell it like it is and not fluff things up.

[KRS1]

They really don't work like back home. they advertiser on their company newsletter and just wait till some one comes their way by chance. i used few and had no result at all even when i offer extra bounces

Could you please describe the property you had for sale please?

[Khun Jean]

It depends, if they are not selling premium real estate then most of them don't 'work', but have a policy of putting a few pictures on a website with an bad description and then wait until some unfortunate soul calls them.

Hunting for property on internet is a lot of lost hours. Many agents don't even answer emails or calls.

The local barbershop knows more property for sale and rent then most brokers.

My first hand experience, and that includes brokers/realestate agent from the Netherlands, Germany, Austria (really horrible), Spain, Italy, Greece, is that most of them are mentally disturbed, shady, 'flashy', always look 'busy' and think customers are easy prey.

Thailand adds the lazy and uninterested characteristics.

I did not look for million dollar houses so that might influence my experiences.

Edited September 8, 2012 by Khun Jean

[johnnyk]

In Canada they are licensed and must pass rigorous exams to demonstrate knowledge of financing, by-laws, conveyancing, clauses, writing contracts etc etc.

Commission structures vary according to the province, some are 6% across the board some are on a sliding scale such as 6% on the first $100,000 then sliding downward as the price increases. Typically the listing agent gets half of the commission and all of it if s/he sells his/her own listing. Agents will tell you that getting listings is the name of the game.

Out of that gross commission amount the agent splits his/her share50-50 with the agency s/he is allied with. If it's the agent's own listing then his/her share is 3% max. otherwise 1.5%.

The agent has to pay shared office costs, all his/her advertising costs for individual listings, signage, website, etc. Often they will work with a prospective buyer for weeks, making appointments, driving around, being on-call at all hours and so on. And then the customer changes his/her mind and the agent gets nothing for time and expenses like petrol etc.

Most are hard-working and earn their money.

Fifty percent last less than a year from entering the game.

Ten percent make good money.

One or two percent make a truckload but they are good and have great referrals.

Edited September 8, 2012 by johnnyk

[KRS1]

In Canada they are licensed and must pass rigorous exams to demonstrate knowledge of financing, by-laws, conveyancing, clauses, writing contracts etc etc.

Commission structures vary according to the province, some are 6% across the board some are on a sliding scale such as 6% on the first $100,000 then sliding downward as the price increases. Typically the listing agent gets half of the commission and all of it if s/he sells his/her own listing. Agents will tell you that getting listings is the name of the game.

Out of that gross commission amount the agent splits his/her share50-50 with the agency s/he is allied with. If it's the agent's own listing then his/her share is 3% max. otherwise 1.5%.

The agent has to pay shared office costs, all his/her advertising costs for individual listings, signage, website, etc. Often they will work with a prospective buyer for weeks, making appointments, driving around, being on-call at all hours and so on. And then the customer changes his/her mind and the agent gets nothing for time and expenses like petrol etc.

Most are hard-working and earn their money.

Fifty percent last less than a year from entering the game.

Ten percent make good money.

One or two percent make a truckload but they are good and have great referrals.

Thailand not Canada

[johnnyk]

In Canada they are licensed and must pass rigorous exams to demonstrate knowledge of financing, by-laws, conveyancing, clauses, writing contracts etc etc.

Commission structures vary according to the province, some are 6% across the board some are on a sliding scale such as 6% on the first $100,000 then sliding downward as the price increases. Typically the listing agent gets half of the commission and all of it if s/he sells his/her own listing. Agents will tell you that getting listings is the name of the game.

Out of that gross commission amount the agent splits his/her share50-50 with the agency s/he is allied with. If it's the agent's own listing then his/her share is 3% max. otherwise 1.5%.

The agent has to pay shared office costs, all his/her advertising costs for individual listings, signage, website, etc. Often they will work with a prospective buyer for weeks, making appointments, driving around, being on-call at all hours and so on. And then the customer changes his/her mind and the agent gets nothing for time and expenses like petrol etc.

Most are hard-working and earn their money.

Fifty percent last less than a year from entering the game.

Ten percent make good money.

One or two percent make a truckload but they are good and have great referrals.

Thailand not Canada

Yes, I figured that out.

I was providing CDN info as a matter of perspective as others had mentioned other countries.

Thank you for your concern.